Skip to main content

Facebook’s new local business listings feature causes Yelp shares to drop

facebook fake news newspaper ads woman using
Image used with permission by copyright holder
Facebook has quietly started to provide local business listings courtesy of a new site it just launched.

The feature, which claims to helps users “find local businesses with the best Facebook reviews and ratings,” acts as a search engine that displays local services (painters, plumbers, electricians) currently listed on the social network along with its user reviews. Additional information includes a tally of the number of reviews for each listing, phone numbers, address, opening hours, and a short description. The feature is presently only available on desktop.

The move, spotted by tech blog Search Engine Land, sees Facebook muscling in on territory currently home to popular online listings providers such as Yelp and Angie’s List — and its impact is already being felt.

Since news of the new feature broke, Yelp’s shares fell around 9% to $26.87, reports USA Today. Angie’s List has suffered a similar fate (albeit on a smaller scale) with its shares dropping 2% to $9.24.

Screen Shot 2015-12-16 at 14.40.30
Image used with permission by copyright holder

The market depicts what is likely to be a worrisome outlook for online listings providers now that Facebook is on the scene. With 1.4 billion users and 40 million small business pages, the social network will be a force to contend with.

“We’re in the early stages of testing a way for people to easily find more Pages for the services they’re interested in,” Facebook spokesman Mike Manning said in an emailed statement to USA Today.

Facebook has increasingly courted small businesses of late, launching more plugins and e-commerce features aimed squarely at local service providers.

Angie’s List estimated the local services industry to be worth $800 billion this year, according to the Wall Street Journal. And with so many small businesses looking to boost their presence on the social platform, the new listings site is a seemingly natural progression in Facebook’s business strategy.

Saqib Shah
Former Digital Trends Contributor
Saqib Shah is a Twitter addict and film fan with an obsessive interest in pop culture trends. In his spare time he can be…
Snapchat has a new Shared Stories feature. Here’s how to use it
The Snapchat app store listing on a mobile device with a stylus resting on it.

You've been able to add your friends as collaborators on Snapchat Stories before (via Custom Stories), but now Snapchat is letting you expand your team of collaborators beyond just your friends.

On Wednesday, Snapchat introduced a new feature called Shared Stories that lets you add friends to a Story and lets those friends add their friends to the Story as well. Snapchat contends that the new feature is a way for users to "build community around the content they love to Snap." Everyone who joins a Shared Story is allowed to add to that story.

Read more
New Live Share feature for Teams is like screen sharing 2.0
Microsoft Teams in Together mode on a laptop.

At its annual Build developer conference, Microsoft has announced Live Share for Microsoft Teams, a new feature that could replace boring screen shares. The experience is designed to make your meetings more collaborative and engaging, so that you can interact with and share content in a meeting in new ways.

Microsoft believes it can help you better interact with shared apps directly in a Teams meeting window. It'll be up to app developers to enable it, but Live Share in the Teams meeting stage should allow you to annotate, edit, zoom in and out, and interact with shared content.

Read more
Facebook about to rebrand under a new name, report claims
facebook hacked

Facebook will announce a major company restructure next week that will see it operate under a new name, a person claiming to have knowledge of the matter said this week.

The unnamed source told The Verge that Facebook CEO Mark Zuckerberg wants to make the change to highlight the company’s ambitions beyond its core social networking product.

Read more